Exercise of Warrants and Issue of Equity

LONDON--()-- 

Armadale Capital Plc (‘Armadale’ or ‘the Company’)

Exercise of Warrants and Issue of Equity

Armadale Capital plc (LON: ACP), the AIM quoted investment group focused on natural resource projects in Africa, announces that two investors have exercised their option over 1,136,127 ordinary shares at a price of 2.2p per share in the capital of the Company ('Ordinary Shares'), providing the Company with proceeds of £24,995.

Application will be made to the London Stock Exchange to admit the 1,136,127 new Ordinary Shares to trading on AIM. Admission of the new Ordinary Shares is expected to occur on 29 May 2020 ('Admission'). The new Ordinary Shares will rank pari passu with the existing Ordinary Shares.

Following Admission, the issued share capital of the Company will be 442,597,529 Ordinary Shares and this figure may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest, the Company, under the Disclosure Guidance and Transparency Rules published by the UK Financial Conduct Authority. There are no Ordinary Shares held in Treasury and each Ordinary Share entitles the holder to a single vote at general meetings of the Company. Therefore, the total number of voting rights in the Company will be 442,597,529.

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

**ENDS**

Enquiries:

 

Armadale Capital Plc

Nick Johansen, Non-Executive Director

Tim Jones, Company Secretary

+44 (0) 20 7236 1177

Nomad and broker: finnCap Ltd

Christopher Raggett / Teddy Whiley

+44 (0) 20 7220 0500

Joint Broker: SI Capital Ltd

Nick Emerson

+44 (0) 1483 413500

Press Relations: St Brides Partners Ltd

Charlotte Page / Beth Melluish

+44 (0) 20 7236 1177

 

Notes

Armadale Capital Plc is focused on investing in and developing a portfolio of investments, targeting the natural resources and/or infrastructure sectors in Africa. The Company, led by a team with operational experience and a strong track record in Africa, has a strategy of identifying high growth businesses where it can take an active role in their advancement.

The Company owns the Mahenge Liandu graphite project in south-east Tanzania, which is now its main focus. The Project is located in a highly prospective region with a high-grade JORC compliant Indicated and inferred mineral resource estimate of 59.48Mt @ 9.8% TGC, making it one of the largest high-grade resources in Tanzania, and work to date has demonstrated Mahenge Liandu’s potential as a commercially viable deposit with significant tonnage, high-grade coarse flake and near surface mineralisation (implying a low strip ratio) contained within one contiguous ore body.

Other assets Armadale has an interest in, include the Mpokoto Gold project in the Democratic Republic of Congo and a portfolio of quoted investments.

More information can be found on the website www.armadalecapitalplc.com.

Short Name: Armadale Capital Plc
Category Code: MSCU
Sequence Number: 700416
Time of Receipt (offset from UTC): 20200526T071828+0100

Contacts

Armadale Capital Plc

Contacts

Armadale Capital Plc